Argex appoints Normand Bergeron to its board of directors

"We are extremely pleased to have an individual with Mr. Bergeron's
experience and reputation with both the government and the private
sector join the Argex board of directors and we are excited about the
tremendous value-added he brings to the team as we advance towards
becoming a near-term producer of high purity pigment grade TiO2," commented Argex President and CEO, Roy Bonnell.

Since October 2011, Mr. Bergeron has been acting as an Executive
Counsellor at Samson Bélair/Deloitte & Touche. He was Chief Executive
Officer of Infrastructure Québec from its creation in March 2010 until joining Deloitte. Mr. Bergeron
was also Deputy Minister of the Ministère des Ressources Naturelles et de la Faune (Quebec Department of Natural Resources and Wildlife) from May 2005 to
July 2009. He has held many senior management positions in the Québec
public sector which he joined in 1975. He developed an extensive
knowledge of the energy sector as Vice-President of the Régie de l'énergie du Québec (Québec Energy Board) from 2002 to 2005, as Associate Deputy Minister
at l'Énergie et aux changements climatiques (Energy and Climate Change) from 2000 to 2002, as Managing Director of
l'Agence de l'efficacité énergétique (Energy Efficiency Agency) from 1998 to 2000 and as a member of
Hydro-Québec's Board of Directors (2005-2009).

Additionally, Argex reports that it has issued a total of 750,000 stock
options on February 24, 2012. One director was granted 250,000 stock
options while the 500,000 balance was granted to consultants. These
incentive stock options are exercisable at $0.59 with an expiry date of
February 24, 2017 and have an 18-month vesting period.

Argex is also pleased to announce, subject to approval of the TSX-V, the
hiring of The Howard Group Inc. ("The Howard Group") to handle investor
relations activities. As consideration for the services to be provided,
The Howard Group will receive a $7,000 per month fee for a ten month
contract. In addition, subject to regulatory approval, The Howard Group
will be granted 250,000 stock options at a strike price of $0.59 vested
quarterly over twelve months.

The principals of The Howard Group and The Insight II Limited
Partnership, which is associated with The Howard Group, own shares in
Argex and continue to acquire shares in the open market.

ARGEX MINING INC. has recently transitioned from a mining exploration
company to a near-term producer of commodities that the world needs:
Titanium Dioxide, Iron and Vanadium Pentoxide. With a primary goal of
advancing rapidly towards production, Argex has adopted a simple and
low risk strategy for the scale-up of its proprietary process that
allows it to produce high purity TiO2 directly from its 100% owned deposits.

Additionally, the Company owns 100% of the Mouchalagane property, which
is a large Labrador Trough iron ore property that represents further
potential upside for the Argex shareholders.

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.